A pouch for a handgun adapted to be worn on the belt of a user, the bag including a releasably closable ammunition compartment located within and on the bottom of the bag for accessing extra ammunition wherein the compartment is closed with a flap secured to the bag and releasable from the bag by micro hook and loop fasteners, and wherein the compartment is oriented such that upon separating the flap from the bag the contents of the compartment drop into the hand of the user by gravity. A magnetic closure releasably seals the pouch, whereby the user can open the pouch and reach into the pouch to access a handgun without the possibility of a stuck zipper.